Networking technology provider Cisco agreed yesterday to acquire US-based speech technology developer BabbleLabs in a deal that will allow computing equipment manufacturer Dell and semiconductor technology producer Intel to exit.
Founded in 2017, BabbleLabs exploits deep learning software to clean background noise and interference from speech in a variety of applications including internet voice calls and communications devices.
The size of the transaction has not been disclosed. Cisco plans to use the technology to improve its collaboration product portfolio, which includes online video conferencing platform, Webex.
Dell and Intel co-led a $14m series A round for BabbleLabs in May 2019 through corporate venturing subsidiaries Dell Technologies Capital and Intel Capital.
The 2019 round also featured all the investors in the company’s $4m seed round in early 2018. Cognite Ventures led the seed round, which was also backed by angel investors Jerry Yang, John Hennessy, Harvey Jones, James Hogan and Kurt Keutzer.